Boxwood Means, Inc., a leading provider of valuations, and data and analytics in the small commercial real estate property and loan markets, announced today the introduction of the FieldSmart Collateral Advisor, the firm's latest commercial evaluation report.
FieldSmart is the latest in the firm's deep line of valuation products supporting commercial mortgage originations, loan and credit reviews, and portfolio monitoring for commercial banks, investors and servicers. Though borrowing heavily from Boxwood's toolkit of technology-driven valuation solutions, FieldSmart takes a conventional approach to collateral valuation by employing the sales comparison method.
As a result, Boxwood's FieldSmart operation integrates a highly-automated information processing system with high-touch handling of field inspections, valuations and quality assurance tasks that offers clients an unparalleled level of service and report quality. In addition, FieldSmart is a fully compliant commercial evaluation in accordance with the federal Interagency Appraisal and Evaluation Guidelines.
Similar to ordering other types of reports, clients obtain FieldSmart reports on Boxwood's subscription web site, SmallBalance.com. There are nearly a dozen firms using FieldSmart at the product's launch this month.
"We think FieldSmart's fast start with bank clients reflects their confidence in our capabilities to help them meet their internal production goals, as well as their risk management and compliance objectives," stated Randy Fuchs, Boxwood principal and co-founder. "FieldSmart is a solution that balances these bank interests along with another important consideration - reasonable cost."
Boxwood's new evaluation product harnesses industry-leading data sources and a proven nationwide network of field agents to develop data-rich reports with relevant sales comparables and sales listings, extensive building inspections and photos, detailed adjustment grid and market commentary among other information.
"The FieldSmart operation has been developed and supported by a team of appraisers, real estate analysts and customer support staff with one goal in mind - further elevate the soundness of our clients' decision-making in the small commercial property and loan markets," added Fuchs.